To provide for direct and accurate compensation to financial institutions for providing various critical depositary and financial agency services for or on behalf of the United States, and for other purposes.
Depositary Services Efficiency and Cost Reduction Act - Authorizes appropriations to reimburse financial institutions in their capacity as depositaries and financial agents of the United States for all services required or directed by the Secretary of the Treasury to be performed by them on behalf of a Federal agency.
Amends the Federal Reserve Act to make technical amendments to reflect this Act.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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